|Day Low/High||180.78 / 183.29|
|52 Wk Low/High||156.13 / 208.95|
I have been preaching that we need to stay focused on price action more than anything else. This week was a particularly good illustration of why.
* The market's relentless advance continued, with the customary rally from the morning lows. * Breadth improved throughout the day (1,966 advancers, 973 decliners). * Bonds fell in yield, with the 10-year U.S. note yielding 2.50%. * Oil collapsed --...
It is easy to argue that this market should be rolling over but it is not and that means we stick with what is working which are long plays.
There are still dip buyers jumping on intraday weakness and the indices are staying above key technical levels.
Businesses are spending. If you're making stuff... if you're buying stuff, then the railroads are moving stuff.
The rest of the automakers just don't get it -- the sharing economy is a revolution.
Intel is often a more important market leader than the FAANG names.
With an hour to go, here are my key observations on the day: * Another smart rally off of the day's low (such a resilient market!) but not accompanied by a revival of breadth (which is now 1,175 advancers against 1,760 decliners). * Bonds rose by 1-...
These types of index divergences usually do not last too long.
The Amazon report is going to provide us with some very strong evidence of whether a short term top may be developing.
Perhaps it's a semantics question. Or perhaps it is a question that can not be answered. To me, price is both the Truth and a Lie. At any moment in time it is Truth, as we can buy or sell here as the collective wisdom of the investment world judges ...
If one wants to argue price is not truth, then I will happily trade with you.
The fact that the strong stocks are mainly index heavy weights is what is preventing an absolute rout of the indices at this point.
Something is amiss, as macro asset classes are pricing a slower-growth, risk-averse environment ahead.
As we have seen so far, in terms of market reaction, there is great reward at the point of sale in beating expectations.
* If 3M's EPS miss and this column doesn't give you pause for reflection on how investors blindly follow price, nothing will! * Despite protestations from those that worship at the altar of price, share prices are not necessarily truth * Case in poi...
While key stocks in this market, they may not be effective leaders.
3M and Emerson Electric may have similar businesses, but their future growth outlooks are quite different.
With the price of crude higher (+$0.70), the yield on the 10-year U.S. note up by five basis points (to yield 2.56%) and conspicuous strength in industrials ( and +$3) and financials ( , and ), the tape has a growthy tone to it today.
The market bent a bit today but it didn't break. The key takeaways: * Bond yields remain troublesome -- the 10-year U.S. note barely closed with a 2.50% yield. This, after the IMF further reduced its global economic projections for 2019-20. (Industr...
3M, Walgreens and FedEx had tough reports last quarter. But what they really tell us is to watch fundamentals on earnings.
Here are my key takeaways from Thursday's session: The market's main feature was the strength in Boeing , which buoyed the Dow Jones Industrial Average vis a vis the other indices. Banks, retail and industrials -- i.e. 3M , Dow Inc. and DowDuPont --...
The semiconductor sector surge could send some standby industrial stocks higher with it.
* My market concerns are expanding "Driving that train, high on cocaine, Casey Jones you better watch your speed Trouble ahead, trouble behind And you know that notion just crossed my mind." - The Grateful Dead, Casey Jones I have more market concer...
There are signs in the market that the talks may not be going as well as thought, or at least that some believe that Trump thinks he has the upper hand.
Investors who realize individual stocks will eventually revert to their mean can save themselves money and frustration.
What stocks to buy and what to avoid on the continual leaks coming out of the Kudlow-Mnuchin camp and the Lighthizer-Navarro camp.
It's behavioral finance at its finest, and makes for a fascinating debate.
Selecting the creme de la creme of last year's top dividend dogs generated an average total return of 8.8%.
Let's dig deeper on the charts today.